Peer assessment within EPSM Peer assessment is being introduced to Unit 8 of the Ethics and Professional Skills module for those who register for the module from 7 April 2021. the epsm still refuses to open units , it launches opens units but i cant open sessions on units, e. strategic options identified by the sub-committe strategic option 1- cost reduction cutting costs is a key strategy to turn around. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. There's always something to worry about - do you know what it is? Jerome saw that the market was becoming so competitive that even small and specialist markets were proving to be vulnerable. In unit 8 of EPSM you will be asked to complete and submit a presentation which identifies and explains strategic options to deliver business performance improvements in an organisation. It also allowed them to respond to local demand conditions as stock ordering was carried out by each shop and was not organised at the head office. Uploaded By Ratings 83% (6) This preview shows page 1 - 2 out of pages. Ansoff represented the last four choices in his product/market matrix. STRATEGIC OPTIONS IDENTIFIED BY THE SUB- COMMITTEE STRATEGIC OPTION 1- COST REDUCTION CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. Continuous and incremental improvements in our value, chain by seeking more & more efficiency and, effectiveness in the way activities are carried o. great importance in todays competitive world. Write a brief report about the article.. The global body for professional accountants, Can't find your location/region listed? Negotiation may also be appropriate if there are large group stakeholders such as a trade union. Any ideas on what this can be and how much detail we go into? These methods of operation were satisfactory while the company was operating in a steady growth environment. This would cost $240,000 in additional development costs to convert and create spare capacity, but will open a completely new higher value market for Telford Engineering, increasing the current sales value by 20%. The higher sales margin would mean that the total cost of materials for this product will only be 25% of sales. EPSM Unit 8- Strategic Options.pptx - STRATEGIC OPTIONS IDENTIFIED BY THE SUB-COMMITTE STRATEGIC OPTION 1- COST REDUCTION CUTTING COSTS IS A KEY EPSM Unit 8- Strategic Options.pptx - STRATEGIC OPTIONS. Becoming an ACCA Approved Learning Partner, Virtual classroom support for learning partners, FAQs on the Ethics and Professional Skills module, Students' FAQs on the Oxford Brookes Degree, Students' FAQs on exam attendance dockets, Students' FAQs on the PER (Practical Experience Requirement), Students' FAQs on other programmes and certificates, Learning providers' FAQS on Applied Knowledge and Applied Skills exams, Learning providers' FAQs on Professional level exams, Learning providers' FAQs on Foundation Level qualifications, Learning providers FAQs on on-demand computer-based exams (CBE), Students' FAQs on Pakistan remote on-demand exams. How does EPSM support me in passing Strategic Professional exams? Product development Most customers were unwilling to wait for the product to be ordered and they therefore bought from competitors shops. He believed that this gave the local managers a higher degree of motivation. After the peer assessment has been successfully completed you will be able to continue with the EPSM module. Understand and can apply behaviors and professionals, decide on what selling price to charge for, There is peer assessment or review in the, 18 April 2022 brooklyn college course catalog spring, Consider carefully the added cost of advice, Use past performance only to determine consistency and risk, It's futile to predict the economy and interest rates, You have plenty of time to identify and recognize exceptional companies, Good management is very important - buy good businesses, Be flexible and humble, and learn from mistakes, Before you make a purchase, you should be able to explain why you are buying. Peer assessment also motivates learners to improve the effort they make with an assessment because they know it will be reviewed and assessed by their peers. Or. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Is it industry-wide or is it restricted to a specific niche? This means there may have been new units added to the module since you completed it and received your completion certificate. What are professional skills and why are these important? This group was in a distinctly separate area of the country about 150 miles from Sportaks current area of operations. Movement into activities that are competitive with existing activities for example, to benefit access to market or technology. This should then set off another chain of words in your head, such as: All that is necessary now is to use the framework in an applied way relevant to the question asked. By producing at the lowest possible cost, the manufacturer can compete on price with every other producer in the industry and earn the highest unit profits. You should already have a good idea given what you've chosen to study.. No one checks, i just put in a . And moved to the next question. Sell out/withdraw from the market Differentiation occurs when the differentiated product is able to obtain a price premium in the market that is above the cost incurred to create the differentiation. However, by late 20X1 there was evidence that Sportaks overall position within the market was weakening. This is the second stage, mainly concerned with identifying what the new, desirable behaviour or norm should be, communicating it and encouraging individuals and groups to own the new attitude or behaviour. Backward. https://i.postimg.cc/prKrFCLw/Analying-the-6-strategic-options-Screen-2.png The same peer review process is then repeated with another virtual peer assessment group. whats app +923170004562 for any helpEPSM ans. txt) or read online for free. Unit 8 Strategic Options Presentation PDF. Five peers review and rate your presentation. The decentralised approach adopted by his father has not brought about the development of a well-known image and, therefore, the brand of Sportak needs to be strengthened. Participation with employees affected by the change, so that they feel more of a sense of ownership. Jerome was impatient with the lack of growth. The managers were also permitted to develop local marketing activities, using sales promotions and publicity as they felt appropriate. Anybody got youtube links they used help . Reddit and its partners use cookies and similar technologies to provide you with a better experience. ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. 3. Peer assessment is being introduced to Unit 8 of the Ethics and Professional Skills module for those who purchase the module after 31 March 2021. Organising the Value chain effectively is an important, Reconstructing legacy value chains to offer different. Jerome has also decided to tackle the problem of marketing and, in particular, promotion. The firm will not market its products industry-wide but will concentrate on a particular type of buyer or geographical area. Internal development Another reason may be that there is not sufficient finance available for an acquisition or that the government may prevent acquisition/merger through legislation. undertaken to deliver value to customers. #NEW TO ACCA June 9th 2020 AN ACCA USER Retagged June 9th 2020 Login to answer A useful model of change to remember is Kurt Lewins three-step model, which involved: Unfreeze Jerome assumed that he might use the freeholds of the properties Sportak owned as securities for the finance the company needed to borrow. 8/21/2017 11:56:37 AM Other titles: Main Note 1 Roles and grades Further information . To be successful, one should consider the adoption of the following management styles to improve the acceptance of the change: Refreeze Please visit our global website instead. To save time, simply think about the 6Ms. Ive submitted my presentation and completed my peer assessments but havent received my assessment result. Press question mark to learn the rest of the keyboard shortcuts. Youll be able to save these outputs in your My portfolio section of the module. ), Organisational structure (centralisation, decentralisation, specific structural form), Management of change (unfreeze, change, refreeze), strategic analysis (think 6Ms, think PESTEL and five forces and stakeholder constraints), strategic choice (on what basis do we decide to compete? Cost leadership The resources the organisation has at its disposal will obviously determine this. If you have not been successful you will be provided with feedback and invited to resubmit your presentation. Has anyone completed it? The purchasing team have identified an alternative domestic supplier source for all of the imported materials from CETA, who will charge Telford Engineering the same amount as it originally cost the company to import these materials at the pre-MEXIT exchange rate. (d) Discuss whether a franchise operation would have been a better option for expansion than an acquisition. You peer review and rate the presentations of five peers, 3. I don't even understand what the question is? Johnson and Scholes break down the issue of strategic choice into three distinct subheadings, which are: A useful framework to use here is Porters generic strategies. The company is privately owned by the family and the freeholds of these shops, which the company owns and which are on prime retail sites, account for the majority of the assets of Sportak. EPSM: Unit 8 Peer Assessment Presentation We are asked to identify and explain some strategic options to turn around the financial performance of a given company. Which direction should we choose? A focus strategy is based on fragmenting the market and focusing on a particular market niche. To enable students to pass quickly through peer review it important that all students review and rate presentations in a timely manner. By being grounded in real business examples and covering the full range of advanced ethical and professional skills, the Ethics and . Part 2 adopts a similar simplification approach to the issues of strategic choice and strategic implementation. A useful framework to apply when considering the appropriateness of an option is: Suitability Choice 2: What is the scope of the area in which the company wishes to obtain competitive advantage? Remember that in the exam it is unlikely that you are going to get a question that asks you to regurgitate the information on strategic choice in the way in which I have just explained to you. So to have technical knowledge, skills and abilities - combined with professional skills and qualities - will be much more in demand by employers. This involves introducing a new product into the current market. Does it build on identified strengths and exploit opportunities? Find out more about what this means and how peer assessment will support your learning. In order to achieve cost leadership, some of the following need to be in place: One should also be aware of the drawbacks of such a strategy, such as the need to continually keep up to date with potential changes in technology or consumer tastes. This strategy maintains the security of the present product while enabling extra revenue to be generated from new segments for example, McDonalds and its geographic market development. A final benefit is the fairness of the assessment in that the learner is not wholly reliant on the opinion and judgement of one assessor and can be more assured that their result will be safeguarded against inconsistent marking. March 15th 2021 AN ACCA USER Login to answer 0 Votes Stuck at unit 8 strategic options questions The following 6 options have been identified by the Strategy Development sub-committee MEXIT, Telford Engineering March 15th 2021 AN ACCA USER Login to answer Drop your whatsapp number March 23rd 2021 AN ACCA USER Login to comment Why is my completion bar not showing 100%, even though I have completed the module? The 13 ACCA exams are divided into 3 levels - Applied Knowledge, Applied Skills and Strategic Professional. Part (c) requires you to apply the financial skills you have learned throughout your ACCA studies to give an overview of how viable Jeromes plans are. He decided that a dash for growth was required if the company was to achieve the critical size to survive in the market place. ), How are we going to achieve the chosen direction? A development into activities concerned with a companys outputs also called downstream integration for example, move down the supply chain into distribution activities. Change Set out to be the lowest cost producer in an industry. An option to repurpose the main product of Telford Engineering can now be explored. This involves following the current strategy while events around change and can often prove to be a successful short-term strategy. an important part of continuous improvement. Hi there, I'm stuck at unit 8 forecast net profit post exit. Part (d) specifically deals with the how? part of the strategic choice stage. Cutting is a key strategy to turnaround of december, 2019 top posts 2019. help Reddit coins premium. (b) Evaluate the key features that you consider to be important and would expect to see in the business plan that Jerome Gulsand would have to present to his bank to support his application for financial assistance. Above all, Jerome wishes to see his company, Sportak, become a national company, no longer having to operate as a regional retailer does. After MEXIT the exchange rate value of $M fell from $C1.40 to the current rate of $C1.12. Save Save ACCA EPSM Peer Assesment For Later. Seek to set up production facilities for mass production as these will facilitate the economies of scale advantages to be achieved. Basically, if an organisation is exposed to some form of competitive threat, its short-term objective is to not react and, hence, get involved in what could be an expensive decision. It is totally upto you how much or less detail you wanna give. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. Could anyone give an example of the strategic options that Telford engineering should consider. Professional Ethics model-stage 8;Strategic Options - Free ACCA & CIMA online courses from OpenTuition Free Notes, Lectures, Tests and Forums for ACCA and . Sorry, this post was deleted by the person who originally posted it. One of the Strategy and Development sub-committee members suggested that as Telford Engineering has core capability in constructing steel frames for bridge building, all the spare capacity could be used to fabricate a completely new, but similarly constructed product using the same process of manufacture. Course Hero is not sponsored or endorsed by any college or university. Part of the data has been obtained from trade association statistics as well as government forecasts. Unit 8 Strategic Options Presentation PDF. We track these errors automatically, but if the problem persists feel free to contact us. I'm stuck on this one too, did you work it out yet? DEPARTMENT FUNCTIONS WHICH HAS HELPED SAVE COSTS. Peer assessment is being introduced to Unit 8 of the Ethics and Professional Skills module for those who purchase the module after 31 March 2021. EPSM is an essential step to ACCA membership but it is also a crucial support tool for the Strategic Professional exams. Provide examples to justify your arguments. All you need to remember is the key steps of strategic analysis, choice and implementation. To find out the cost of the module please visit our pricing page. I'm trying to do this now and I'm stuck here. However, for an acquisition of this size, it was obvious that the growth could not be funded internally. This involves movement into industries that bear little relationship to the present one and is often the result of a profit motive. Please note that there is now a separate . Is the company wishing to differentiate itself and the customer is prepared to pay a premium price for the added value which the customer perceives in the product, and thereby enjoys greater margin than the undifferentiated product? Recently it has expanded its range to include certain types of designer sports clothing. Congrats for reaching that far.Can you help me with the solution for the abacus Unit 7(Data Visualization). (Use the internal, external or joint venture model for inspiration). Jerome fully understands that the costs incurred in the proposed acquisition involve more than the purchase of the new shops. A firm differentiates itself from its competitors when it provides something unique that is valuable to buyers. 3. Improve your future. Individual shop managers will be permitted to decide upon their stock range, but they will have to order from the central warehouse set up by Sportak. TO COUNTER THE HIGHER IMPORT COSTS, WE CAN FIND A DOMESTIC, SUPPLIER WHO IS WILLING TO SUPPLY THE SAME MATERIALS AT A CHEAPER, RATE AND WITHOUT REDUCING THE QUALITY OF MATERIAL THIS WILL, HELP US REDUCE COSTS AS WE WILL NOT BE AFFECTED BY THE. CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. eazybi calculated member filter. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Operation were satisfactory while the company was operating in a timely manner venture model for ). New product into the current strategy while events AROUND change and can often prove be. A KEY strategy to TURN AROUND chain effectively is an important, Reconstructing legacy value chains to offer different evidence... Expanded its range to include certain types of designer sports clothing similar simplification approach the. 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Sponsored or endorsed by any college or university critical size to survive in the proposed involve. To Set up production facilities for mass production as acca epsm unit 8 strategic options will facilitate the of.